I’m a digital native. Over half my life is spent online. I’ve seen scams — they’ve sucked cash from older family members less digitally savvy than me. They were clumsy, and in hindsight, they seemed glaringly obvious. I invest in cybersecurity software and do my due diligence.

Despite all that, I nearly fell for a spam account that probably took five minutes to set up. Yeesh. Talk about humbling. According to the FTC report, the average victim loses $2,600 worth of crypto. I almost lost about half that — enough money to kick-start a solid emergency fund.

As I scrolled through that scammer’s account, rage building at my way-too-close call, it occurred to me: If someone like me can fall for a low-budget crypto scam, anyone can.

How to spot crypto scams

Scammers are like clingy exes — they linger within the DMs of your favorite social feeds. According to the FDIC report, 40% of scammers contacted victims over social media (mainly Instagram). These hucksters play by the same tactics that make them easier to spot.

Three rules of thumb:

• If someone guarantees you profits on your investment, they are scamming you.
• If someone asks you to buy crypto, they are scamming you.
• If a digital date asks you to move crypto anywhere for any reason, it’s a scam.

Sorting through the nonsense is enough to make the average investor want to pack up their bags and wait out this whole “crypto thing,” potentially missing out on diversified returns. But it’s possible to outsmart the scammers and buy your Bitcoin safely.

Stick to crypto exchanges

Scammers can put a lot of effort into squeezing you for your money. They’ll take advantage of your confusion around crypto and digital wallets. Worst of all, they’ll break your heart as they rip you off. (Cue the sad violin music.)

How to avoid being scammed?

The easiest solution is to stick with an exchange for everything crypto. Avoid wallet-to-wallet transfers with internet strangers. Buy and sell currency directly through reputable exchanges. Stick to well-researched currencies like Bitcoin or Ethereum to avoid rug pulls, a type of crypto scam that ends in collapsing crypto prices.

Crypto exchanges will never ask for money, and they certainly won’t guarantee you sky-high returns. (Not without getting the side-eye from U.S. regulators, that is.) Nor will they attempt to solicit nudes they can use to blackmail you for coins (the FTC report gets awfully specific).

The best cryptocurrency exchanges offer how-tos on investing in your favorite crypto and the information you need to determine whether an investment is right for you. Spoiler: No crypto is 100% guaranteed to return a profit. Not even Bitcoin.

Don’t want to deal with scams? Stick to crypto exchanges, like the best places to buy Bitcoin safely. It’s easy and one of the safest ways for regular folks to diversify their investments. Or avoid crypto entirely — no matter their decisions, investors have options.